The Phaserl



by Andy Hoffman, Miles Franklin:

Yesterday, I noted Zero Hedge’s headline at the start of a quiet, post-Easter session in which European markets were closed; i.e., “Sleepy Holiday Market prepares for scripted, daily low-volume levitation.”  Today, on yet another quiet news morning, Zero Hedge writes “Traders walk in on another Sleepy Session in Search of its Volume-less Levitation Catalyst,” and “S&P Rallies to First 5-Day Streak in 6 Months on No Volume.”  Such is the “financial zeitgeist” created by five years of market manipulation particularly when said “markets” no longer are populated by actual people.  Last week, SEC commissioner Kara Stein ominously stated, “A lot of our rules were written for people, not necessarily computers” but sadly, such “rules” have never been and never will be enforced.

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